With the renowned American investor Jim Rogers on hand to complete the first transaction, a Singaporean entrepreneur called Victor Foo opened on July 3rd what he claims to be the world’s first physical precious-metals exchange.
The genial Mr Rogers, resident in Singapore since 2007, showed how it’s done: on the premises of a security company called Certis Cisco he bought a few coins which were then zipped up in a bag to be stored in their vaults, from where it can be sold on the new exchange whenever he wants (hopefully after the price goes up a bit). This is not about futures or derivatives...............................................Full Article: Source